The Authority has chosen to provide a loan amounting to 5 million Euros to the Bank of Greece, enabling the construction of a fresh terminal building in Baden-Württemberg's urban center.
The Swiss Gambling Regulator Slaps a Hefty Fine of 1.8 Million CHF (Equivalent to 1.87 Million EUR) on the Grand Casino Baden's Management. The Fine Remains Unchallenged Even After an Appeal was Filed.
Lax Player Verification in the Virtual Casino
In July 2019, as per the news on SRF, the Grand Casino Baden launched Switzerland's initial online casino, jackpots.ch. The enactment of Switzerland's Gaming Act in January 2019 instigated this venture.
During the pandemic years, the desire for digital gaming soared, hence, thousands of players registered on the platform. A considerable number of these registrations involved players who were not allowed to participate in gambling at that time.
Swiss Gambling Regulator's scrutiny of the situation points to improper checks by the operators of jackpots.ch on whether certain gamblers had sufficient funds to sustain their excessive gambling habits. Evidence of such ability was either not sought or evaluated accordingly.
In certain instances, gamblers were allowed to deposit in millions and incurred losses in the tens to hundreds of thousands. Here, the online casino had a responsibility to provide better protection and safeguards than it did during its operation.
Operator's Defence
Sadi Brügger, the Communications Manager of the Casino-Baden Group, confirmed that the unexpected surge in demand during the pandemic took the operator by surprise. However, they took every possible measure to ascertain that players had sufficient funds to cover their gambling expenditures.
Additionally, some players registered falsely on jackpots.ch and bypassed any set barriers. Nevertheless, technical solutions have been introduced to prevent such fraudulent activities. The operator promptly acted upon any observed discrepancies.
Switzerland's Limited Online Gambling Market
Currently, Switzerland boasts only ten legal online casinos, each requirement being association with a physical casino. In the latest licensing round, the Swiss Federal Council authorized twice as many online licenses. The Federal Council believes this is close to reaching the saturation point.
Despite the limited legal gambling offers available, unlicensed foreign providers continue to proliferate in the Swiss market.
In several nations, concerns persist about how restrictive gambling laws inadvertently foster the underground gambling market. In Switzerland, too, this theory holds water, with illegal gambling persisting both in the digital and brick-and-mortar sectors.
Potential for an Appeal to the Federal Court
Before the Grand Casino Baden is obliged to pay the substantial fine, an appeal to the Federal Court remains an option. While the operator accepts the occurrence of errors, the appropriateness of the fine amount is also at stake.
Whether the Grand Casino Baden will launch another appeal to alleviate or possibly avoid the fine remains uncertain. The outlook of this renewed process can only be speculated upon.
The news of the hefty fine on the Grand Casino Baden's management has sparked discussions within the gambling industry. Many are questioning the effectiveness of the enforced player verification measures in the online gambling sector.
Despite the appeal filed against the fine, it stands unchallenged, setting a precedent for stricter regulations in the future.
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